Global Aviation Block Chain Market; by Application Type (Flight Parts Tracking, Parts Health Monitoring, Smart Contract Frequent Flyer Programs, Cargo & Baggage Tracking, Passenger Identity Management, Inventory Management, Aircraft Maintenance and others); By End User (Military and Civil & Commercial); By End Market (Lessors, Airlines, MRO, Manufacturers, Airports); And By Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2029
Block chain is a decentralized system that removes central data threats. Block chain technology plays a significant role in ensuring a transparent, visible and well linked supply chain for the aerospace and defense industry. The existence of large and complex supply chains increases demand for the defense sector’s technology, which in effect boosts the development of the aviation block chain industry. In addition, the block chain can be a possible and promising solution for safe accumulation of aircraft maintenance accounts & records, thereby bringing the much-needed transparency into information exchange.
Fatpos Global anticipates the Aviation Block chain market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. This growth is anticipated due increasing mergers and acquisitions across various sectors which will create a worldwide demand for aviation block chains. Due to improved transparency and accountability and many block chain applications in the aviation industry, a strong growth in the global aviation block chain market has been reported in recent years. In addition, decreased costs and transactional challenges lead to market growth.
Aviation Block chain Market: Segments
Global market has been segmented on the basis of End market, application type, industry vertical and by region.
The passenger identity management segment is anticipated to register XX% of the volume share and is expected to grow at a highest CAGR.
Global Aviation Block Chain Market is segmented by Application type into: Flight Parts Tracking, Parts Health Monitoring, Smart Contract Frequent Flyer Programs, Cargo & Baggage Tracking, Passenger Identity Management, Inventory Management, Aircraft Maintenance and others the use of biometrics for passenger screening in the aviation industry provides the ability to collect data for airlines and aviation’s. The storage of passenger information for biometrics and for ID tracking / management can improve their safety by airlines and airports. Most passengers use a smart phone to quickly connect baggage tracking features, alerts, and customized services to their aviation.
Global Aviation Block Chain Market: Market Dynamics
Better transparency and application in military to increase growth
Block chain technology is a distributed data network that allows the industry to monitor and locate various components in a new, elegant, and secure manner while preventing forgeries and improving maintenance capabilities. In addition, this technology offers solid security with tamper-resistant data where all product information is encoded. In addition, Block chain technology is incorporated into IoT, which is expected to drive the worldwide air travel block chain market to improve transparency and productive supply chain. Military men also use aircraft block chain for drone management. These drones offer a large variety of purposes and opportunities, especially when flight is too slow, unsafe or seemingly unsafe.
Lack of standardization to hamper market growth
Lack of legislation and universal standards, slow integration, and a reluctance to adapt is expected to impede market growth in the aviation industry.
Global Aviation Block Chain Market: Regions
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC and MENA.
In terms of technology and infrastructure, North America is the most developed region. Increasing airlines and airports use of technology in this area is one of the key factors that influence the area’s development. The involvement of key players on the markets and major airports is essential to the development of the block chain aviation industry in the region.
Global Aviation Block Chain Market: Key Players
• Microsoft Corporation
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Zamna Technologies
• Winding Tree
• Insolar Technologies
• Moog Inc.
• Aeron Labs
• Other prominent players
Global Aviation Block chain market report also contains analysis on:
• Aviation Block Chain Market Segments:
• By Application type:
o Flight Parts Tracking
o Parts Health Monitoring
o Smart Contract Frequent Flyer Programs
o Cargo & Baggage Tracking
o Passenger Identity Management
o Inventory Management
o Aircraft Maintenance
By Industry Vertical:
o Civil & Commercial
By End market:
• Aviation Block chain Market Dynamics
• Aviation Block chain Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints